This course will help students understand:

1. Difference between Microeconomics &Macroeconomics.

2. Types of markets in an economy:Factor Markets &Goods Markets.

3. Demand &Supply:Basic Principles &Concepts.

   1. The Demand Function and Demand Curve.

   2. Changes in Demand vs. Movements along the Demand Curve.

   3. The Supply Function and the Supply Curve.

   4. Changes in Supply vs. Movements along the Supply Curve.

4. Consumer Surplus: Value minus Expenditure.

5. Producer Surplus: Revenue minus Variable Cost.

6. Elasticity.